Lee Sung 4

What Happened

• Lee Sung, Chief Financial Officer of Cytokinetics (CYTK), exercised stock options to acquire a total of 3,134 shares and sold those 3,134 shares in an open-market transaction on 2026-06-29.
• Exercise details: 188, 822, 1,113, 188 and 823-share option exercises at exercise prices of $44.36 (multiple tranches) and $48.51 (1,113 shares), with aggregate cash paid of $143,644. The open-market sale was 3,134 shares at $85.00 each, gross proceeds $266,390. Net cash from the sequence (sale proceeds minus exercise cost) was roughly $122,746 before fees and taxes.
• The filing shows matching derivative dispositions at $0, indicating conversion of the options into shares that were then sold (a cashless-style exercise followed by sale).

Key Details

• Transaction date: 2026-06-29.
• Exercises: total 3,134 shares (exercise prices $44.36 and $48.51); aggregate cost reported $143,644 (acquired).
• Sale: 3,134 shares sold at $85.00 each; gross proceeds $266,390 (open-market sale, code S).
• Derivative disposition entries at $0 reflect the options being converted/exercised (code M).
• Shares owned after the transactions: not specified in the provided filing details.
• No 10b5-1 plan, tax-withholding notation, or late-filing flag disclosed in the provided data; the Form 4 was filed on 2026-06-29 (same date as the transactions).

Context

• Exercise/conversion (code M) means options or other derivatives were converted into common shares. The simultaneous sale of the same number of shares is consistent with a cashless exercise or immediate sale to cover exercise costs and taxes.
• Such exercise-and-sell patterns are common for executives realizing value from vested options and do not, by themselves, indicate a change in view about the company.